Entropy Technologies LP Increases Stake in Rocket Companies, Inc. (NYSE:RKT)

Entropy Technologies LP grew its stake in shares of Rocket Companies, Inc. (NYSE:RKT) by 105.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,695 shares of the company’s stock after purchasing an additional 48,098 shares during the quarter. Entropy Technologies LP’s holdings in Rocket Companies were worth $1,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in RKT. Capital Performance Advisors LLP purchased a new stake in Rocket Companies during the 3rd quarter valued at $39,000. KBC Group NV raised its stake in shares of Rocket Companies by 58.1% during the fourth quarter. KBC Group NV now owns 6,056 shares of the company’s stock valued at $68,000 after acquiring an additional 2,226 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Rocket Companies during the third quarter worth about $120,000. Blue Trust Inc. grew its stake in shares of Rocket Companies by 54.1% in the third quarter. Blue Trust Inc. now owns 6,438 shares of the company’s stock worth $124,000 after purchasing an additional 2,261 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Rocket Companies by 3,429.7% during the 3rd quarter. International Assets Investment Management LLC now owns 7,377 shares of the company’s stock valued at $142,000 after purchasing an additional 7,168 shares during the period. Institutional investors own 4.59% of the company’s stock.

Rocket Companies Price Performance

Shares of NYSE RKT opened at $12.92 on Tuesday. The company has a debt-to-equity ratio of 1.51, a quick ratio of 15.47 and a current ratio of 15.47. The company has a 50 day simple moving average of $11.97 and a two-hundred day simple moving average of $15.54. Rocket Companies, Inc. has a fifty-two week low of $10.06 and a fifty-two week high of $21.38. The company has a market capitalization of $25.77 billion, a price-to-earnings ratio of -80.74 and a beta of 2.43.

Rocket Companies (NYSE:RKT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. Rocket Companies had a positive return on equity of 2.86% and a negative net margin of 0.38%. The business had revenue of $647.00 million during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business earned ($0.01) earnings per share. The firm’s quarterly revenue was down 46.2% compared to the same quarter last year. Analysts expect that Rocket Companies, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

RKT has been the subject of several research analyst reports. Piper Sandler dropped their price objective on Rocket Companies from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, November 14th. Morgan Stanley dropped their price target on Rocket Companies from $16.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. Wedbush reissued a “neutral” rating and set a $13.00 price objective (down from $18.00) on shares of Rocket Companies in a research report on Wednesday, November 13th. UBS Group raised shares of Rocket Companies from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $12.50 to $11.50 in a research report on Friday, January 10th. Finally, Royal Bank of Canada cut their target price on shares of Rocket Companies from $20.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Wednesday, November 13th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Based on data from MarketBeat, Rocket Companies currently has a consensus rating of “Hold” and a consensus price target of $13.50.

About Rocket Companies

Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company’s solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; and Rocket Loans, an online-based personal loans business.